As the prospects for the US economy darken, the stress test results published on June 23 show systemically important banks are able to swallow substantial losses if a recession materialises.

The unique product identifier looks set to launch from late next year as major jurisdictions are managing to stay on track.

The president of the European Central Bank, Christine Lagarde, has warned that cryptocurrencies are being used by Russian actors to bypass sanctions. The G7 leaders, in a statement issued by the White House, have stressed that measures are in place to pursue those who attempt to use crypto assets to evade such sanctions. By Katie McDougall, Harriet Jones-Fenleigh, Adam Sanitt; and Emma Houldsworth at Norton Rose Fulbright 

The Autorité des marchés financiers (AMF) has granted the controversial crypto exchange Binance approval to operate in France making it the first major European country to do so.

The 2021 collapse of the family office Archegos Capital Management prompted the European Securities and Markets Authority (ESMA) to recommend creating a framework enabling supervisors to better monitor risks related to derivatives.

Climate change could inflict huge credit losses on financial firms according to the Bank of England’s latest stress tests, although these would still be manageable for the industry.

Companies listed in the US will face one of the most exacting climate-related disclosure regimes in the world if the Securities and Exchange Commission gets its way, and there are already concerns that it goes too far.